U.S. REPS. JACKSON AND GREEN PRAISE HIBERNIA BANK, FREDDIE MAC AND USHER'S NEW LOOK FOUNDATION FOR DONATING PERMANENT HOME TO HURRICANE FAMILY RELOCATING TO HOUSTON

Grammy Award-Winning Artist Usher Will Be on Hand to Officially Welcome Family Members to Their New Home

Houston, TX – One fortunate family displaced by Hurricane Katrina will be the recipient Friday, Oct. 7, of a donated 2,500-square-foot, three-bedroom home in Houston. In order to make the rebuilding road a little easier for victims of Katrina and Rita, New Orleans-based Hibernia Bank is joining Usher's New Look Foundation and Freddie Mac (NYSE:FRE), one of the nation's largest investors in residential mortgages, to donate a home to a displaced family seeking permanent residency in Houston.

Among those on-hand at the house donation will be Grammy Award-winning artist Usher; Willie Spears, executive vice president for Hibernia Bank and president of Hibernia Community Development; and Vaughn Irons, national director of expanding markets at Freddie Mac.

In response to the natural disasters along the Gulf Coast, Hibernia and Freddie Mac are helping Usher's New Look Foundation launch Project Restart, a series of high-profile outreach events designed by the Foundation to raise funds for Katrina and Rita relief. One of the first areas to benefit from Project Restart is Houston.

U.S. Rep. Sheila Jackson Lee (TX-18) applauded the effort, saying "It is through individual efforts with the invaluable assistance of organizations such as Freddie Mac and Hibernia Bank that evacuees will recover from the devastation caused by Hurricanes Katrina and Rita. Freddie Mac, Hibernia Bank, and Usher's New Look Foundation with recording artist Usher are to be commended on their humanitarian efforts. The social and practical problems caused by the hurricanes will only be exacerbated by the fact that finding permanent housing can be extremely challenging. I am elated to be a part of this effort."

"I want to thank Freddie Mac, Hibernia Bank, and Usher's New Look Foundation for their work to rebuild the lives of those who lost homes to Hurricanes Katrina and Rita. We are all partners in this rebuilding effort," said Congressman Al Green (TX-9). "I hope that their work will inspire others to join together in partnership to keep real the great American ideal of homeownership for those who lost their homes as well as those who have never had a home. Thank you for giving the heart a place to call home."

"We're pleased that we can help those displaced from their homes by the recent storms as they work hard to rebuild their lives and establish a greater sense of normalcy," Spears said. "We realize that many of those struggling are our customers, neighbors and friends, and we want to give them the support they need as they rebuild and restart their lives."

To demonstrate his personal support for the program, Usher will attend Friday's ceremony and join Hibernia and Freddie Mac to officially welcome the family to their new home.

"Freddie Mac is honored to work with Hibernia Bank and begin the job of helping those who lost their homes to the recent hurricanes," said Irons. "By doing what it takes to help this storm family find a safe place to live, Freddie Mac and Hibernia Bank are demonstrating their core conviction that homeownership will play a significant role in America's recovery from these terrible storms."

On Sunday, Oct 9, Hibernia will join Usher in a concert at the Philips Arena in Atlanta dedicated to the families displaced by Hurricanes Katrina and Rita. With the help of corporate sponsors such as Hibernia and civic leaders like Atlanta Mayor Shirley Franklin, Usher is inviting 5,000 Katrina and Rita evacuees, who were relocated to Georgia, to attend the concert free. The remaining tickets for the concert are available for sale to the general public. Proceeds from the benefit concert will be used to help Katrina and Rita victims settle into their permanent or semi-permanent homes.

About Hibernia

Hibernia is on Forbes magazine's list of the world's 2,000 largest companies and Fortune magazine's list of America's top 1,000 companies according to annual revenue. Hibernia has $22.1 billion in assets and 321 locations in 36 Texas counties and 34 Louisiana parishes. Hibernia Corporation's common stock (HIB) is listed on the New York Stock Exchange.

About Freddie Mac

Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and nearly four million renters in America.

About Usher's New Look Foundation

Usher's New Look is a 501 (c)(3) nonprofit organization that focuses on providing disadvantaged youth with a new look on life. www.ushersnewlook.org.

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